Frankfurt-based asset manager DWS has acquired a 24.9% stake in UK-based artificial intelligence firm Arabesque AI Ltd for an undisclosed sum.
Arabesque AI specialises in the use of artificial intelligence to predict stock markets movements in portfolio management.
DWS chief executive Asoka Woehrmann said: “The strategic partnership with Arabesque AI is the next step towards the digitalisation of DWS. It will clearly strengthen our digital capabilities and, in particular, our artificial intelligence know-how.
“In the future, the AI engine will deliver innovative signals that will help us identify additional alpha sources, and enable us to make smarter decisions.”
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